Vikram Solar Share Price: IPO Synopsis & Financial Highlights (1) - PowerPoint PPT Presentation

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Vikram Solar Share Price: IPO Synopsis & Financial Highlights (1)

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This presentation by Altius Investech provides an in-depth look at Vikram Solar's financial health, market position, and investment potential. It covers the company's background, key financial metrics, recent performance, and upcoming IPO details. The goal is to equip investors with insights to make informed decisions about investing in Vikram Solar's unlisted shares. – PowerPoint PPT presentation

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Date added: 18 June 2024
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Title: Vikram Solar Share Price: IPO Synopsis & Financial Highlights (1)


1
VIKRAM SOLAR SHARE PRICE IPO SYNOPSIS
FINANCIAL HIGHLIGHTS BY ALTIUS INVESTECH
2
Company Overview
Vikram Solar Limited (VSL), founded in 2006 and
headquartered in Kolkata, India, is a leading
provider of solar energy solutions with a strong
focus on the design, manufacturing, installation,
and maintenance of photovoltaic (PV) modules and
solar power systems. Led by Mr. Hari Krishna
Chaudhary and Mr. Gyanesh Chaudhary, along with a
team of seasoned professionals, VSL has
established itself as a key player in the
renewable energy sector. The companys
manufacturing facilities in Falta Special
Economic Zone (FSEZ) in West Bengal and Chennai
boast significant installed capacities, enabling
VSL to produce and export high-quality PV modules
to domestic and international markets.
3
Brand Portfolio
Vikram Solar doesnt just make solar panels
they also provide complete solar energy
solutions. Theyve built over 300 solar plants
and are currently working on more, totalling 1.42
GW in capacity. Plus, they take care of these
plants even after theyre built, offering
maintenance services for over 900 MW of solar
energy projects. Theyre also big on rooftop
installations, having completed over 190 projects
across different areas and industries, including
some impressive ones like a massive 5 MW solar
carport at Maruti Udyog Limited. To make sure
everything runs smoothly, theyve sorted out
their supply chain, making it easier to get the
materials they need on time and at a good price.
4
Award and Recognition
  • ICC 2nd Green Urja and Energy Efficiency Award
    (2022) Recognized for innovative project
    development, Vikram Solar received the Jury
    Choice Award for Product Development at this
    esteemed event on March 23, 2022.
  • 2. Solar Quarters India Utility Solar Week
    Awards (2021) Vikram Solar clinched two awards
    in the categories of Company of the Year EPC and
    Outstanding Product Innovation of the Year,
    showcasing its commitment to excellence and
    innovation in the solar energy sector.
  • 3. India Rooftop Solar Congress Awards (2022)
    Vikram Solar secured three awards, including EPC
    Company of the Year (Commercial), Company of the
    Year (Module), and Smart Technology Innovation of
    the Year (Solar Module), further highlighting its
    expertise and achievements in rooftop solar
    solutions.
  • 4. Solar Quarters Sundowner Award (Year) Mr.
    Gyanesh Chaudhary, the driving force behind
    Vikram Solar, was honored as one of the 100 Most
    Powerful Solar Business Leaders.

5
Vikram Solar Key Strengths
  • Experienced Management and Established
    Relationships Vikram Solar Limited benefits from
    a management team with over five decades of
    collective experience in the solar business.
  • 2. Healthy Order Book Position With an
    unexecuted order book of approximately Rs. 11,500
    crore as of November 2022, VSL enjoys strong
    revenue visibility in the near to medium term.
  • 3. Positive Industry Outlook The Indian
    governments emphasis on developing solar
    capacity, coupled with increased import duties
    and geopolitical factors such as anti-dumping
    duties on Chinese imports and Europes quest for
    alternative energy sources
  • .
  • 4. Significant Improvement in Performance VSL
    has demonstrated substantial performance
    improvement in the current fiscal year,
    attributed to the execution of variable price
    contracts.

6
Vikram Solar Key Weaknesses
  • Moderate Financial Risk Vikram Solar Limited
    maintains a moderate financial risk profile with
    a healthy net worth and moderate gearing despite
    weak debt protection metrics. While tangible net
    worth declined to Rs. 435.62 crore as of March
    31, 2022, the companys Debt-to-Equity ratio
    stood at 1.50. However, weak Interest Coverage
    Ratio (ICR) and Debt Service Coverage Ratio
    (DSCR) present challenges, though an improvement
    is expected with enhanced accruals and no major
    debt-funded capital expenditure plans.
  • 2. Working Capital Intensity VSL operates in a
    working capital-intensive environment, evidenced
    by high Gross Current Assets (GCA) and extended
    debtor periods. Despite this, inventory holding
    levels are comfortable, and Acuité anticipates
    improved working capital management due to the
    companys focus on manufacturing activities and
    reduced reliance on EPC contracts.

7
Share Price of Vikram Solar
  • The buy price of Vikram Solar varies based on
    quantity, ranging from ?226 for quantities
    between 100 250 shares to ?222 for quantities
    between 2501 4878 shares, with corresponding
    rates per share.
  • The 52-week high is ?425, and the 52-week low is
    ?166, indicating the range of fluctuations in the
    share price.
  • Currently, Vikram Solar is trading at around Rs.
    270/share.

Buy Vikram Solar Unlisted Shares from Altius
Investech.
8
IPO Synopsis
  • Vikram Solar planned to raise Rs. 2000 crores
    through an IPO.
  • Fresh Issue Rs. 1500 Crs
  • Offer for sale 5 million shares
  • DRHP Filing 6th March 2022
  • The company might also consider selling shares
    for Rs. 300 crores before the IPO, which could
    change the original plan.
  • The people selling shares include Anil Chaudhary,
    Girish Kumar Madhogaria, Pushpa Madhogaria, and
    Vikram India Ltd. The leading companies helping
    with this process are JM Financial Limited and
    Kotak Mahindra Capital Company Ltd.

9
Risks
  • Vikram Solars success depends on how well it can
    build new factories and make more solar panels
    without spending too much money. This can be
    risky and uncertain.
  • 2. The company might not benefit from government
    policies, like the PLI scheme, which could affect
    its business.
  • 3. Vikram Solar does not have long-term
    agreements with the people who supply them with
    materials to make solar panels. This means they
    could face problems if these materials become
    hard to get.
  • 4. The company makes most of its money from
    selling one main product.
  • 5. If the prices of the things they need to make
    solar panels, like wafers and solar cells, change
    a lot, it could affect Vikram Solars business.

10
THANK YOU!
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